GRIT - Ed.04 - Flipbook - Page 14
HOW WE SAVE
past few decades, brands
I nliketheApple
and Amazon have
completely shifted how we define
‘great customer service’. Digital interactions which enhance our ability to decide, connect, and communicate are table stakes, and brands
investing into experiences which
enhance our ability to become better personally and professionally
will earn and retain our business.
THE POWER OF
PERSONALIZATION
AND WHAT IT MEANS FOR BANKING
Consumers demand more, and
in an age where we are asked to
give so much of our data to the
brands who manage our money, a
balance in value exchange is needed. When we think about banking,
we expect easy ways to purchase,
borrow, and invest, and if the experience lacks what others can offer,
we switch. It’s as simple as that, and
it’s becoming easier to do so.
At Senso, we see this as a fundamental gap prohibiting the ability for most banks to differentiate
themselves and deliver on their
promise. Our goal is to democratize
access to contextual and connected financial experiences by working
with forward-thinking banks to better serve consumers leading up to
crucial moments in their lives.
PROACTIVE BANKING
By Saroop Bharwani, Co-founder
and CEO, Senso; Next AI, 2017
14
GRIT
The interactions we have with
brands who lend to us, invest for
us, and insure us, need to be meaningful and proactive. For example,
I recently refinanced my mortgage
with another bank, and it’s simply
because I was introduced to an
advisor who provided me with a
compelling incentive to switch. She calculated how
much I would save and recommended some contacts
to assist me with my other financial products. When
reflecting back, the experience happened quite serendipitously, and required quite a bit of manual effort. In
an age where the data required to automate this workflow could be made accessible via a single endpoint, so
is the ability to proactively surface meaningful experiences when we need them most.
Senso focuses on transforming fragmented data
into proactive experiences, supporting consumers at
key inflection points in their lives. We’re currently working with banking partners across North America to
provide support and enhanced service to almost two
million consumers seeking financial guidance during
the pandemic.
THE FUTURE OF DATA
Providing more meaningful and data-driven experiences requires a shift in how digital marketers think
about online consumer interactions. This shift has been
initiated by firms like Apple and Google who finally
realized the use of tracking via third-party cookies is an
outdated way of tracking people. I believe banks need
to adopt the following in order to earn consumer trust
and win more business:
1.
Consent-driven workflows: Well-designed
communication frameworks where consumer
consent and transparency around value
exchange is inherent in digital workflows.
2. Embedded finance: Brands extending their
offerings beyond their own digital assets, into
external touchpoints where consumers are
interacting at the point of sale.
As consumers, we have clearly stated our expectations, and banks who act on ingraining these two
concepts into their tech stack, and utilize data as
an asset, will win our business over and over again—
table stakes.
GRIT
15